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February 22, 2022 at 02:28 PM
Related: 10 New Tax Numbers to Know for 2022
Retirement savings are looking healthy despite the so-called “Great Resignation.” This is the conclusion of Fidelity Investments, from an analysis of 35 million IRA, 401(k) and 403(b) retirement accounts.
Overall findings for Q4 2021 were that the younger generations are leading the charge for savings, especially Gen Z, and that employers have stepped up in pushing retirement readiness through matching contributions and automatic enrollment.
“It’s positive to see that, across the board, people are continuing to focus on their retirement savings and taking the right steps to keep their savings on track, even during periods of uncertainty,” said Jason Jagatic, head of Workplace Thought Leadership, Fidelity Investments, in an email.
“We’re especially encouraged by positive behavior among Gen Z investors, since getting an early start on your retirement savings is one of the key factors to reaching your long-term goals.”
To see some of these defined contribution plan statistics, and how IRAs and Roth IRAs have fared, see the gallery above.
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